Roots Corp. shareholders vote in favour of a go-private transaction that takes the Canadian retailer private. The deal is led by New York-based brand management firm Marquee Brands, according to reports from BNN Bloomberg and The Globe and Mail.
Under the terms described by the outlets, Marquee Brands acquires Roots and pays shareholders $4.10 per share. The vote approval is the key step that clears the way for the transaction to proceed, subject to remaining conditions and formal closing steps.
While both sources agree on the outcome of the shareholder vote and Marquee Brands’ role in the transaction, they focus on different aspects of the announcement—one on the fact of shareholders approving the go-private move, and the other on the specific per-share consideration for shareholders.
